Table 5. Comparison of Average Net Advisory Prices and Benchmark Prices for Corn and Soybeans, 1995 - 2003 Crop Years, Commercial Storage Costs
                       
Market Farmer Difference Between Advisors Difference Between Advisors
Average Benchmark Benchmark and Market Benchmark and Farmer Benchmark
Net Central Illinois Central Illinois USDA Average Central Illinois Central Illinois USDA Average
Number of Advisory 24-Month 20-Month Price Received 24-Month 20-Month Price Received
Crop Year Programs Price Average Average   for Illinois   Average Average   for Illinois
---$ per bushel (harvest equivalent)--- --- per bushel (harvest equivalent)---
Panel A: Corn
1995 25 3.03 2.90 3.07 3.06 14 -4 -3
1996 26 2.63 2.65 2.66 2.50 -2 -4 12
1997 25 2.32 2.33 2.27 2.23 -1 5 9
1998 23 2.17 2.24 2.12 1.97 -8 5 20
1999 26 2.02 2.05 1.97 1.93 -3 5 9
2000 27 2.13 2.09 2.01 1.95 4 11 18
2001 27 1.99 2.00 1.94 1.95 -2 5 4
2002 27 2.15 2.10 2.09 2.11 4 6 4
2003 26 2.24 2.23 2.22 2.22 1 2 3
1995-2003 Average 2.29 2.29 2.26 2.21 1 3 8
Panel B: Soybeans
1995 25 6.59 6.26 6.39 6.59 33 20 1
1996 24 7.27 7.08 7.21 7.17 19 6 10
1997 23 6.38 6.30 6.22 6.17 9 16 21
1998 22 5.82 5.86 5.64 5.18 -4 18 64
1999 25 5.67 5.50 5.30 5.39 18 37 28
2000 26 5.44 5.42 5.38 5.29 2 6 15
2001 26 5.45 5.34 5.21 5.55 11 23 -10
2002 26 5.24 4.98 5.10 5.41 26 14 -17
2003 25 6.22 5.95 6.35 7.27 27 -13 -105
1995-2003 Average 5.99 5.85 5.87 6.00 16 14 -1
                       
Notes: Net advisory prices and benchmark prices are stated on a harvest equivalent basis. A crop year is a two-year marketing window from September of the year previous to harvest through August of the year after harvest. Averages for 1995-2003 are computed over the full set of advisory programs. As a result, averages of individual crop year prices or differences may not equal the averages reported for 1995-2003.